Datadog (NASDAQ:DDOG) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Datadog (NASDAQ:DDOG) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $150.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a research report on Wednesday, May 8th. Wedbush reissued an outperform rating and set a $155.00 price objective on shares of Datadog in a research report on Wednesday, June 26th. Rosenblatt Securities reaffirmed a buy rating and issued a $146.00 target price on shares of Datadog in a report on Monday, May 6th. Bank of America raised shares of Datadog from a neutral rating to a buy rating and lifted their target price for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Finally, Barclays lowered their target price on shares of Datadog from $152.00 to $145.00 and set an overweight rating on the stock in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $138.21.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $120.31 on Monday. The company’s fifty day moving average price is $121.27 and its 200 day moving average price is $123.96. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market capitalization of $40.24 billion, a P/E ratio of 375.97, a P/E/G ratio of 40.57 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. As a group, sell-side analysts predict that Datadog will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the sale, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. Insiders sold a total of 857,606 shares of company stock worth $103,799,779 over the last ninety days. 11.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the period. Sands Capital Management LLC raised its holdings in Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after acquiring an additional 162,108 shares in the last quarter. Norges Bank acquired a new stake in Datadog in the fourth quarter valued at $384,986,000. Massachusetts Financial Services Co. MA raised its holdings in Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after acquiring an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.